LYN Awards Drill Contract
Today, our microcap exploration Investment, Lycaon Resources (ASX: LYN) has awarded a drill contract to Topdrill for its maiden drilling program at the high-priority Stansmore prospect within its West Arunta project.
This brings LYN even closer to finally drilling its targets in West Arunta, which has become a hotbed of exploration success in recent years.
Drilling is planned to start in early November and take 2-3 weeks to complete.
WA1 Resources made a giant niobium/rare earths discovery in the West Arunta and went from a share price of ~13c to $23.20 in less than two years, a ~17,700% gain.
At its peak WA1 Resources market cap was over $1BN.
The past performance is not and should not be taken as an indication of future performance. Caution should be exercised in assessing past performance. This product, like all other financial products, is subject to market forces and unpredictable events that may adversely affect future performance.
What’s next for LYN?
We now look ahead to LYN completing our Objective #2 from our LYN Investment Memo:
Objective #2: Drilling at its niobium & rare earths project in WA.
We want to see LYN get on the ground and drill its project in the West Arunta region.
Milestones
🔄 Commence drilling
🔲 Assay results
Source: “What do we expect LYN to deliver” Section - LYN Investment Memo 30 Nov 2022.
Read our latest note on LYN below:
